December 24, 2018 / 12:38 PM / 6 months ago

Brazil's GPA to sell 3.86 pct stake in Via Varejo

SAO PAULO, Dec 24 (Reuters) - Brazilian retailer GPA SA will sell a 3.86 percent stake in electronics retailer Via Varejo SA through a block trade on the Sao Paulo stock exchange on Thursday, according to a securities filing.

GPA, which is controlled by France’s Casino Guichard Perrachon SA, has been seeking the sale of the electronics retailer for more than a year. It owns 43.2 percent of Via Varejo.

GPA said in the filing on Friday it aims to conclude the sale of its remaining stake in Via Varejo by the end of 2019.

Reporting Aluisio Alves; Writing by Carolina Mandl; Editing by Jeffrey Benkoe

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